News Summary

Generative AI, a rapidly growing field since the emergence of ChatGPT in 2022, has seen significant investment from Silicon Valley investors and tech giants. Despite the billions poured into developing AI models and tools, the question remains: when will these technologies start generating profits? The Financial Times’ AI editor, Madhumita Murgia, explores the efforts to create a ‘killer app’ for AI and the use of AI in the workplace, questioning whether some of the most highly valued AI companies are on the right path. Noteworthy developments include OpenAI’s target of 1 billion users in its next growth phase and nearly $1 billion in funding for AI-powered coding, which seeks to establish itself as a ‘killer app’. Meanwhile, Meta continues its substantial investment in AI despite recent market disruptions.